Informatics Publishing Limited

Ashok Bantwa , Krunal Bhuva

Abstract

This study has been carried out to evaluate the performance of selected 20 equity diversified schemes during the study period of June 2007 to May 2012. An attempt has been made to evaluate the fund's performance, level of diversification and manager's ability to pick the undervalued stocks. The study revealed that except one all the sampled schemes have performed better than market. . Risk adjusted performance in terms of Sharpe and Treynor ratio showed that 55% of the fund schemes bear positive values. The findings also revealed that majority of the schemes were adequately diversified. Negative correlation between level of diversification, measured by R2 and unique risk proved that, fund managers remained successful in reducing unique risk through better diversification. The study also revealed that about 60% of the schemes were able to beat the market with help of better stock selection skill of fund managers. Overall, ING Dividend Yield Fund, Tata Dividend Yield Fund, UTI MNC Fund, Quantum Long-Term Equity Fund, Canara Robeco Equity Diversified, HDFC Growth Fund, Franklin India Prima Plus Fund and Tata Pure Equity Fund are among the best performing funds among the sampled schemes, in terms of all the different performance evaluation measures.

Keywords

Mutual Funds, Performance Evaluation, Systematic Risk, Unsystematic Risk, Portfolio Return

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Ashok Bantwa , Sumitkumar Acharya

Abstract

The main objective of this research paper is to study the feasibility of reverse mortgage loans as a retirement planning tool among Indian senior citizens and to find the major challenges against the acceptance of reverse mortgage loan. The paper includes SWOT, PESTEL and Five Force analysis by using secondary data. It also includes a detailed market survey conducted by using primary data collected from sample senior citizens. Developed countries are faced with severe budgetary constraints in sustaining their current universal and liberal Old Age Social and Income Security (OASIS) programmes. Developing countries are slated to face acute problems in meeting the OASIS needs of their projected population of the elderly. After the detailed research we found that retirement planning done by majority of retired people is not adequate to satisfy their current needs and majority of them are dependent on transfer from their children as their current source of income. So there lies huge growth potential for reverse mortgage loan in India.

Keywords

Longevity, Retirement Planning, Home Equity, Market Potential, Reverse Mortgage

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